STATEN ISLAND, N.Y. -- Richard Grasso, who led the New York Stock Exchange through the ordeal of 9/11, declared last night that he's ready to lead the city.

Speaking at Wagner College, the former chairman and CEO of the NYSE said he'll seek the Republican nomination for mayor in 2013 if Police Commissioner Raymond Kelly does not run and former Gov. Eliot Spitzer does.

The visit to Grymes Hill constituted a rare public appearance for Grasso, who left his post under a cloud in 2003; he was ultimately vindicated in a wrangle over his compensation.

Before an audience of about 150, Grasso spoke on "Convergence: Public Policy, Government and the Economy," touching on the 2008 financial crisis and the worrisome budget deficit.

Richard Grasso speaks at Wagner CollegeFormer New York Stock Exchange chairman and CEO Richard "Dick" Grasso speaks to over 100 guests as part of a symposium lecture and discussion called, "Convergence: Public Policy, Government and the Economy" at Wagner College. Grasso added he would make a possible bid for mayor should police commissioner Ray Kelly turn down the opportunity and former governor Eliot Spitzer throw in his hat as an Independent.

"We're in a hole in this country," he warned. "The first, most important strategy, is to stop digging. It's amazing when you can bring a government to a halt over $40 billion in expense reduction when we have a $1.7 trillion deficit."

The nation's economic health will improve, he said, only when the Democratic and Republican parties reach consensus on limiting taxes.

Rising from modest beginnings in Jackson Heights, Queens, Grasso served in the U.S. Army for two years, then joined the NYSE as a floor clerk in 1968. In 2005, he was recognized as the only person in the history of the NYSE to rise through the ranks to become a CEO and chairman.

"You can't run a $14 trillion debt load on this country for much longer," he warned. "The rest of the world is looking at us and ready to pass judgment that our golden promise of turning a better future to our children will be over -- and that's a very sad commentary. Not for a minute do I believe the electorate will let this continue."

It's essential that President Obama's policies be retooled, he said.

"I thought the President got the message from last November's elections, and then came the speech last week. It was a political speech, not an attempt to bring the two sides together in fiscal reform.

"His words were reflective of the extreme left but he's too smart to let the left pull him over. They'll be forced to come to reconciliation with the problems."

Despite his criticism of the President, Grasso described himself as apolitical.

"I'm a fiscal sanity advocate. I think we're going to have to say, 'Yes, we will sacrifice.' But we're not going to let this great country go the way many have before. This [nation] can't be allowed to expire, because it sets the tone for the rest of the world. We have an opportunity to reinvent ourselves."

Asked his opinion of Mayor Michael Bloomberg, Grasso said the mayor should be judged by the positive things he has done for the city, including his stewardship of the economy in the aftermath of the terrorist attacks of Sept. 11, 2001.

Emily Pierce, a senior majoring in accounting, said she was impressed with Grasso's breadth of knowledge.

"I admire his history with the NYSE and his experiences. It's a tricky time now because so much has gone wrong, Ms. Pierce said. "We just need one thing to go right to turn this around."